Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following adjusted year-end trial balance at December Wilson Trucking Company Account Tinte Debat Credit Cash $9,000 Accounts receivable 16.500 Office supplies 2,600 Trucks 190,00

image text in transcribed
image text in transcribed
image text in transcribed
The following adjusted year-end trial balance at December Wilson Trucking Company Account Tinte Debat Credit Cash $9,000 Accounts receivable 16.500 Office supplies 2,600 Trucks 190,00 Accumulated depreciation-Trucks $ 39,140 Land 75.000 Accounts payable 13.00 Interest payable 3,000 Long-term notes payable 52.000 Common stock 51.153 Retained earnings 138.50 Dividends 19.000 Trucking revenue 114,500 Depreciation expense-Trucks 25,245 Salaries expense 53,701 office supplies expense 11.00 Repairs expense-Trucks 9.847 Totals 5411,293 5411,293 The Retained Earnings account balance was 5138,500 at December 31 of the prior (1) Prepare the income statement for the year ended December 31 2) Prepare the statement of retained earnings for the year ended December 31 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31, WILSON TRUCIONG COMPANY Income Statement For Year Ended December 31 Revenues The Retained Earnings account balance was $138,500 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31 (2) Prepare the statement of retained earnings for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses 0 $ 0 Required Required 2 > The Retained Earnings account balance was $138,500 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of retained earnings for the year ended December 31. WILSON TRUCKING COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year 0 Retained earnings, December 31 current year $ 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Accounting A User Perspective

Authors: Suadagaran, Shahrokh M, Smith Lawrence Murphy

5th Edition

1531018661, 9781531018665

More Books

Students also viewed these Accounting questions